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Lecture 1

ADMS 1000 Lecture Notes - Lecture 1: Videotelephony, Exchange Rate, Canadian Business


Department
Administrative Studies
Course Code
ADMS 1000
Professor
Shahab Modirmassihai
Lecture
1

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AP/ADMS 1000 – Lecture # 1 – Exploring Canadian Business: A Critical Approach
Chapter 1: Exploring Canadian Business: A Critical Approach
The Internal Context of Business
The internal context of business includes four broad areas:
Labour – Labour, in a broad sense, involves the people that the company hires and
work towards the company’s goals and objectives. In Chapter 2, we will consider the
employer-employee relationship and current labour issues in the workplace
Leadership – Leadership involves the management of the organization that leads and
motivates its employees. In Chapter 3, we will consider how management should best
manage its workforce, and whether or not traditional approaches to managing people
are still relevant for today’s companies
Structure – The structure of a business can also be a determinant of a businesses’
success. How large or small should a business be in terms of its departments and
people? What is the right structure to ensure the optimal amount of productivity,
communication, and the ability of an organization to adapt to changes in its external
environment?
Strategy – And strategy. In Chapter 5, Strategy will be discussed. We will examine what
are various strategies businesses should consider and what strategy is best given their
industry, competitive pressures and other influential factors
The External Environment of Business
Each factor in an organization’s external environment can be considered as existing in
two spheres: a specific sphere or environment, within which the organization directly
operates, and a general sphere or environment that would encompass the external
environments of all organizations in a society
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The specific sphere has been referred to as the environmental domain of the
organization. For example, changes in the international environment may be a common
factor for all organizations with, say, trade agreements affecting Canadian industry in
general. However, some industries may be differentially affected by changes in the
international environment via trade agreements. Not all organizations within an industry
or within different industries are equally affected by changes in the environment. There
are changes that affect all or some industries, and there are changes or factors that
influence the direct sphere or environment of specific organizations
The sphere surrounding the organization’s specific environment is typically referred to as
the general environment. The forces that make up the general environment ultimately
shape the specific environment of the organization. Consequently, the general
environment will also influence the organization’s ability to obtain resources
The Specific Environment
The specific environment of business is surrounded by its external stakeholders.
These are parties or groups that have direct influence on the organization’s ability to
obtain resources and generate outputs
Stakeholders have some kind of stake or interest in the organization and could include
such parties as the organization’s customers or suppliers, the labour pool from within
which the organization obtains employees, competitors, unions, distributors, creditors,
the local public, and the government
The General Environment
Consists of the broader six external forces that can influence business such as:
Political forces
Economic forces
Technological forces
Societal forces
Competitive forces
Global forces
The External Environment of Business: Political
Country stability
Laws and regulations
Taxes
Trade relationships (e.g. NAFTA)
Environmental fees
Business Incentives
Crown corporations
Deregulation/privatization
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